UK:
PRA Introduces Fundamental Rules
08 July 2014
Shearman & Sterling LLP
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On 19 June 2014, the PRA published a Policy Statement, including
final rules and feedback, relating to the introduction of the PRA
Fundamental Rules (which replace the Principles of Business in the
PRA Handbook), information gathering, auditors, the financial
stability power (see above) and skilled persons reports (see
above).
The final rules came into effect on 19 June 2014. The Policy
Statement is available at: http://www.bankofengland.co.uk/pra/Documents/publications/ps/2014/ps514.pdf.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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